All Forum Posts by: Tracy Jelliff

I searched the forum for this topic, but only found posts over a year old.

I am researching property management software. I looked into Buildium per recommendation from this site and because it offers residential and commercial properties (which is needed). As I was working through the free trial, I realized the software was for property managers and not owners. Do any owners use this software? 

As owners, do you use management software? If not Buildium, which do you prefer? Why?

I like this idea. He only owns two properties. So could we walk into a bank together and put both of our names on the mortgage as co-borrowers? Obviously I would be an owner residing at the property and he wouldn't be, but they would still allow an FHA?

And yes, I planned on residing there as soon as we closed and then work on the garage over time. 

@Christopher Phillips

Thank you for your reply. We are setting up a proposal for them about a potential seller financing option. Since it’s an estate sale, I feel that won’t take this option. The family has some tension

Hi everyone! 

I am brand new here and to real estate. I have found a property with amazing potential! It's a 3 bed 1-1/2 bath with potential for a 1000 sqft apartment over the garage. The sellers have drastically reduced the price because of it being an estate sale (it's been on the market for nearly a year and winter is coming). I know the sellers well, too. 

My problem is financing. I've been denied by three banks for any amount of funds based on student loan debt (debt to income ratio). My father was going to attempt to help by purchasing and then renting to own to me (with refinancing in the future), but we are deterred by the 20% down. My dad owns several properties and has refinance in the past to purchase other properties, so that is not an option.

Any creative solutions to this problem? I can 100% afford the monthly payments as they would be nearly identical to the rent I am paying now (although no bank cares about my ability to pay only my debt to income ratio). I am at a loss.

Any input would be appreciated!

Thank you,

Tracy